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Market Report

Container update 17th November, 2005
During the second half of October the charter market activity remained at a fairly low level with charter levels continuing to drop. However, as from beginning of November, fixture activity picked up and a few fixtures have given hope for a brighter future than most of the experts have predicted. Having said that, we should not fail to mention that some of these fixtures are merely for forward positions. Ships coming open in 2005 still face difficulties to find takers at decent rate levels and some remain 'spot'.

Above 2000 TEU it is noteworthy that most of the prompter ships (open within 2005) had to accept shorter periods around 6 months. The 3100 TEU ship Minna for instance fixed USD 25,750 for a period of six months for account MSC. The 2600 TEU N/B Nordwelle finally fixed 4-6 months with KMTC at USD 22,500. Only the Palatia and Patria with forward positions were able to gain longer periods of 24 months, however at relativey low rates of USD 23,000 compared to the last done in this size a few weeks ago.

In the medium size around 1300 and 1900 TEU one has to distinguish between spot and forward fixtures, as mentioned above. We consider the fixtures of the two Wenchong N/B's H Lauenburg and H Limburg with delivery April and June 2006 to CSCL at USD 19,800 as rather remarkable. The rates are higher than most market participants would have expected them to be. Also the slightly smaller H Langeland did manage to obtain a longer period of almost two years at a decent rate of USD 17,800. On the other hand we have seen prompter ships struggling to find employment. A few ships like the Santa Monica or the Conti Asia finally fixed at around USD 15,000 only for periods of around 6 months. This is some 20 percent less what similar vessels obtained a few weeks ago.

In the segment around 1000 TEU activity remained very low and thus we are only able to report a few fixtures. The 900 TEU ship Reverence, however was still able to secure a decent deal with Messrs. Simatech at USD 15,000 for a
period of 12 months.


 
 
 

FIXTURES

Gearless

Germany '96 opt Maersk Sealand
60,200 dwt 4158 teu (3124 at 14ts)
235 reefers / 23,0kn on 150,0ts
opt 12 mos ww trade
 22,500
   
N/B 1 ex STX tbn Nordwelle'05 KMTC
34,000 dwt 2602 teu (1856 at 14ts)
440 reefers / 21,5kn
4-6 mos ww trade
 22,500
   
Cape Norman '98 Yang Ming Line
22,800 dwt 1504 teu (1180 at 14ts)
200 reefers / 21,0kn on 61,0ts
6-12 mos feast trade
 17,500
   
Andalusian Express '95 PIL
18,585 dwt 1471 teu (110 at 14ts)
42 reefers / 19,0kn
12 mos feast trade
 14,200
   
Millenia Tower '90 Samudera
22,734 dwt 1404 teu (1090 at 14ts)
200 reefers / 19,0kn on 41,0ts
10 mos feast/ioc trade
 16,500
   


Geared

Santa Celina '01 PONL
45,500 dwt 3400 teu (2325 at 14s)
800 reefers / 23,5kn on 113,0ts
opt 12 mos ww trade
 private
   
Minna '05 MSC
41,800 dwt 3091 teu (2430 at 14ts)
500 reefers / 22,0kn on 97,5ts
6 mos med/usec trade
 25,750
   
Palatia '06 MOSK
34,600 dwt 2600 teu (1856 at 14ts)
440 reefers / 22,1kn on 89,5ts
24 mos ww trade
 23,000
   
Patria '06 MOSK
34,600 dwt 2600 teu (1856 at 14ts)
440 reefers / 22,1kn on 89,5ts
24 mos ww trade
 23,000
   
Buxlink '02 ext Maersk Line
33,817 dwt 2468 teu (1912 at 14ts)
400 reefers / 22,0kn on 74,0ts
ext 4 mos ww trade
 25,000
   
Conti Valencia '98 ext MSC
34,080 dwt 2464 teu (1810 at 14ts)
200 reefers / 21,0kn on 67,0ts
6-8 mos ww trade
 19,500
   
Santa Monica '91 MSC
30,007 dwt 1742 teu (1527 at 14ts)
100 reefers / 19,5kn on 47,5ts
4-6 mos atlantic trade
 15,000
   
N/B H Lauenburg '06 China Shipping
23,400 dwt 1740 teu (1330 at 14ts)
300 reefers / 21,0kn on 64,0ts
36 mos ww trade
 19,800
   
N/B Limburg '06 China Shipping
23,400 dwt 1740 teu (1330 at 14ts)
300 reefers / 21,0kn on 64,0ts
36 mos ww trade
 19,800
   
Dorian '94 Costa Cont. Lines
22,160 dwt 1684 teu (1100 at 14ts)
160 reefers / 19,5kn on 47,0ts
12-16 mos atlantic trade
 19,400
   
Buxsailor '93 Marfret
23,465 dwt 1684 teu (1231 at 14ts)
153 reefers / 19,0kn on 48,0ts
12 mos atlantic trade
 22,000
   
Dollart Trader '97 CLAN
22,260 dwt 1608 teu (1124 at 14ts)
200 reefers / 21,0kn on 60,0ts
12 mos ww trade
 19,500
   
Macaro '96 Delmas
22,083 dwt 1608 teu (1083 at 14ts)
200 reefers / 21,0kn on 59,0ts
9-12 mos ww trade
 19,200
   
Conti Asia '93 PIL
23,596 dwt 1599 teu (1168 at 14ts)
120 reefers / 18,0kn on 45,0ts
30 days feast trade
 15,500
   
Conti Asia '93 GSL
23,596 dwt 1599 teu (1168 at 14ts)
120 reefers / 18,0kn on 45,0ts
6-8 mos feast/wafrica trade
 14,750
   
H Langeland '03 CP Ships
20,700 dwt 1581 teu (1065 at 14ts)
288 reefers / 20,0kn on 55,0ts
1 feast / aussie r/v abt 30 days
 15,000
   
H Langeland '03 MOSK
20,700 dwt 1581 teu (1065 at 14ts)
288 reefers / 20,0kn on 55,0ts
21-23 mos feast trade
 17,800
   
Hansa Stavanger '97 Far Shipping
20,526 dwt 1550 teu (1029 at 14ts)
198 reefers / 20,0kn on 49,0ts
4 mos fe/ioc trade
 13,000
   
Germana '98 (C-Box) QC Lines
20,567 dwt 1301 teu (1000 at 14ts)
63 reefers / 17,0kn on 29,5ts
2 mos feast trade (relet)
 14,200
   
Plovdiv '89 opt EMES
14,101 dwt 1034 teu (661 at 14ts)
125 reefers / 17,0kn on 31,0ts
opt 12 mos east med trade
 13,250
   
American Tern '90 Military Sealift Command
17,175 dwt 1033 teu (669 at 14ts)
45 reefers / 16,5kn
5 yrs ww trade
 private rate
   
Reverence '01 Simatech
12,106 dwt 932 teu (650 at 14ts)
150 reefers / 18,0kn on 34,0ts
12 mos feast trade
 15,000
   
Cape Byron '93 Yang Ming Line
10,200 dwt 930 teu (570 at 14ts)
80 reefers / 17,0kn on 28,5ts
6 mos interasia trade - relet fm sinotrans
 13,500
   
Western Star '97 HUB LINE
12,630 dwt 826 teu (536 at 14ts)
80 reefers / 16,5kn on 27,0ts
3 mos feast trade
 11,900
   

This report reflects information given in good faith to the best of our knowledge, but without guarantee.